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RE: Digital Universal Basic Income Project drops end of December 2017
I've been following this one for a while. I'm going to join up. Resteemed.
I've been following this one for a while. I'm going to join up. Resteemed.
Hey @revo - While I am all for Mannabase and I hope that it succeeds I feel that people should monitor it because its failure might also reflect badly on UBI. Part of the reason a currency exists is due to its velocity. If a person gets paid for an hours work, the money is spent in a store. The store owner takes the money and buys products from the local farmer who deposits the money into the local bank. The bank in turn loans it to a person building a house. The house builder pays his employee for an hour of work who spend it in the local store and so on. It rotates around in a local economy.
Contrast the behaviour of that money with money going to big box stores. Person gets paid for an hour and buys something in the store. The money goes to Georgia.
If feel that a successful UBI should be community based. A community government can give value to a currency by requiring that it be used to pay for municipal services. This sets a threshold value of the currency. It also has the opportunity to succeed because it stimulates local economies. After all if a big box store needs to consider using a currency which only has value in "Dog River, Saskatchewan"... it gives an exchange opportunity. Big Box Store of Georgia would need to sell its Dog River Dollars at a discount - allowing local people (or government) to increase their holdings.
It is possible that the way forward with Mannacoin would be to consider something similar to STEEM'S Smart Media Token... allowing a subset of the technology to be utilized within specific organizations or communities.